Anand and Anand completes delicate HAVELLS assignment

Anand and Anand executed successfully a delicate and complex assignment of the HAVELLS marks between QRG Enterprises Limited and Havells India Limited, a well-known producer of consumer and industrial electrical goods with a market cap of over Rs. 20,000 crore.

Havells India had been using the recognisable brand on license from QRG, when in 2013 the latter agreed to transfer the marks in the electrical category of goods and services to it by 1 April 2016.

With the deadline looming, the sensitivity of the transaction, given not only the value of the HAVELLS marks, was heightened by the publicly limited nature of the companies which meant they were accountable to intense shareholder, regulatory and media scrutiny.

The non-monetary transaction was completed fairly, transparently and with the agreement that the goodwill and reputation in the marks will be preserved. QRG continues to maintain shareholding in Havells India, and both companies will cooperate in enforcement proceedings arising from the marks.